More trouble continues to lie ahead for embattled executives of Lehman Brothers, which ended its long-standing relationship with Wall Street investors last month when it failed as an investment bank. Now undergoing testimony before Congress, Lehman Brothers executives are describing the activities that led up to that fateful day when Lehman Brothers closed its doors. Among the topics of discussion are the payouts several executives received just days before the firm closed.
In fact, Lehman Brothers holdings Inc. agreed to pay a total of $29 million to three executives in the days that preceded the closing. Naturally, Congress would like to know more about that series of transactions.
Lehman Brothers CEO, Richard Fuld Jr., has been in Congress' crosshairs the last few days explaining the curse of action the firm took leading up to the company's closing. Of course, Fuld Jr. is pointing to the larger global economic forces that led to the company's closing.
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Print | posted on Tuesday, June 17, 2008 9:50 AM